Ill. Admin. Code tit. 14, § 150.470 - Restricted and Professional Words
a)
Words which are subject to restrictions on their use in a corporate name
include, but are not limited to, the following and any variation thereof:
Trust, Pawners, Cooperative, Housing, Engineering, Insurance, Bank, Bankers,
Banking, Union, Surety, Underwriters, Assurance, Reinsurance, Indemnity,
Casualty, Guaranty, Gaurantee, Guarantor, Trustee and Fiduciary or any other
prohibited term.
b) However,
"Banks", "Banker", or "Banking" may be used in a corporate name if, at the time
of filing of the articles of incorporation, application for certificate of
authority by a foreign corporation, or an amendment to either of these
documents to change the corporate name, the corporation or incorporators give
the Department a letter signed by the Commissioner of Banks and Trusts of
Illinois granting permission to use these words, pursuant to the standards set
forth in the Illinois Banking Act, Section 46 [205 ILCS 5/46
].
1) The corporation using any of these
aforementioned words must not be engaged in the banking business, but may be a
bank holding company.
2) The use of
these words shall be allowed if the corporation is not doing financial business
and otherwise prohibited word is a person's proper name, e.g. "Robert
Banks".
c) The
Department will prohibit the incorporation of corporations which seek to use
names or have purposes which violate Sections 3.05 and 4.05(a)(2) of the Act.
This prohibition does not apply to names or purposes specifically authorized by
these rules.
Notes
Amended at 18 Ill. Reg. 7783, effective May 15, 1994
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